International Assets Investment Management LLC Purchases 887 Shares of Procore Technologies, Inc. (NYSE:PCOR)

International Assets Investment Management LLC raised its position in Procore Technologies, Inc. (NYSE:PCOR) by 6,823.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 900 shares of the company’s stock after acquiring an additional 887 shares during the quarter. International Assets Investment Management LLC’s holdings in Procore Technologies were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCOR. Vanguard Group Inc. raised its stake in Procore Technologies by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock valued at $557,746,000 after acquiring an additional 995,757 shares during the period. Invesco Ltd. raised its position in shares of Procore Technologies by 32.8% in the third quarter. Invesco Ltd. now owns 2,398,257 shares of the company’s stock valued at $156,654,000 after purchasing an additional 592,318 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Procore Technologies by 940.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 407,530 shares of the company’s stock worth $26,620,000 after buying an additional 368,370 shares during the last quarter. Cadian Capital Management LP boosted its holdings in shares of Procore Technologies by 9.1% during the 3rd quarter. Cadian Capital Management LP now owns 3,026,123 shares of the company’s stock worth $197,666,000 after buying an additional 253,000 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new position in Procore Technologies in the 3rd quarter valued at about $14,858,000. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Down 0.2 %

Shares of PCOR stock opened at $68.25 on Thursday. Procore Technologies, Inc. has a fifty-two week low of $48.11 and a fifty-two week high of $83.35. The stock’s fifty day moving average price is $76.54 and its two-hundred day moving average price is $68.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $9.99 billion, a PE ratio of -51.32 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. The firm had revenue of $260.04 million for the quarter, compared to analysts’ expectations of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. Equities analysts predict that Procore Technologies, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total value of $446,429.90. Following the sale, the senior vice president now owns 77,768 shares in the company, valued at $5,747,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Howard Fu sold 1,441 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the sale, the chief financial officer now directly owns 192,178 shares in the company, valued at $13,648,481.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the transaction, the senior vice president now owns 77,768 shares of the company’s stock, valued at approximately $5,747,055.20. The disclosure for this sale can be found here. Insiders sold a total of 467,672 shares of company stock worth $36,612,454 in the last three months. 39.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PCOR. Piper Sandler boosted their price objective on Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. DA Davidson reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a report on Thursday, March 14th. The Goldman Sachs Group lifted their target price on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on shares of Procore Technologies from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus raised their price target on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.86.

About Procore Technologies

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.